The bearish movement was likely to be a false signal. In fact, just over the weekend, we pointed out the strangeness of the Nasdaq which had not followed the decline of the other equity indices. Usually the American stock indices tend to move together at the points of inversion and therefore this “anomaly” left doubts about the possibility of starting a lasting fall in prices. On the contrary, the charts have undergone strong improvements and if yesterday’s movement is further confirmed today, there is a high probability of seeing further increases of 7/10% in less than two months. Here is our view today: Wall Street flexes its muscles and could now point to an upside until mid-August.
Let’s proceed step by step
The expected scenario for the current week was the following:
rebound between Monday and Tuesday with the formation of the weekly high and then a new fall until close to the closing of trading on Friday. Probable bullish self-modification in progress and today it will be decisive to confirm or not this fact. Will it go down or will it continue to rise?
Here are the levels to monitor for today and which will act as a watershed:
Bullish trend in progress. Bullish reversal only with a daily close below 33,480.
Bullish trend in progress. Bearish reversal only with a daily close below 13,960.
Bullish trend in progress. Bullish reversal only with a daily close below 4.173.
If today, the upside will continue
Wall Street flexes its muscles and could now point to an upside until mid-August. What to invest in from now on?
Over the weekend we had indicated the following titles to monitor for the current week: Amazon (NASDAQ: AMZN), Google, Facebook, JPMorgan and Microsoft. These are all companies that at current levels have affected levels of undervaluation and that could do well from now on.
We will proceed step by step.
(We remind you to carefully read the warnings regarding this article, which can be consulted who”)